Real estate firm Hines and its partner EnviroFinance Group (EFG) have acquired a 60-acre land in central Denver, Colorado, the US, to redevelop it into a new Class A industrial and logistics park.
The site, near the northwest corner of 56th Avenue and I-25, was acquired from Koppers.
Hines and EFG will build a Class-A business park, named Quantum 56, with nearly 860,000ft2 of office warehouse space across six buildings.
The first phase of the project will include 581,250ft2 of warehouse space.
Upon completion, the project is expected to be the large, modern format business park in the central submarket of Denver.
It will accommodate tenants ranging from 20,000ft2 looking for office, warehouse and showroom space, to larger tenants requiring space of 350,000ft2.
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Hines director Courtney Schneider said: “I am thrilled to announce our partnership with EFG and to begin the redevelopment of Quantum 56.
“Our redevelopment plan for the site will result in a state-of-the-art business and logistics park serving the widest range of tenants in the central submarket, who will benefit from the central location in the heart of Denver.
“Quantum 56 is an ideal complement to the Hines Denver footprint and will serve as a new benchmark of quality for infill, core logistics development.”
Furthermore, the company has appointed Jason White, Mitch Zatz and Carmon Hicks from JLL to serve as leasing agents.
Recently, Hines and Harrison Street, in partnership with 2ML Real Estate, have broken ground on the first phase of the Levit Green, a new mixed-use life science district, in Texas, the US.
Hines and EnviroFinance Group have acquired 60-acres site in central Denver to redevelop into a new Class A business park. Credit: Hines.